Plexus Corp. (NASDAQ:PLXS) Short Interest Update

Plexus Corp. (NASDAQ:PLXS) was the recipient of a large decline in short interest during the month of May. As of May 31st, there was short interest totalling 433,400 shares, a decline of 18.6% from the May 15th total of 532,400 shares. Based on an average trading volume of 111,900 shares, the days-to-cover ratio is presently 3.9 days. Currently, 1.6% of the company’s shares are sold short.

Plexus Stock Performance

Shares of NASDAQ:PLXS traded down $1.73 on Friday, hitting $102.13. The company’s stock had a trading volume of 106,026 shares, compared to its average volume of 100,413. Plexus has a 12 month low of $87.21 and a 12 month high of $114.27. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 28.21 and a beta of 0.95. The stock’s 50-day moving average is $103.86 and its two-hundred day moving average is $100.58. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.64 and a current ratio of 1.51.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.07. Plexus had a return on equity of 10.77% and a net margin of 2.54%. The business had revenue of $966.90 million during the quarter, compared to analyst estimates of $950.75 million. During the same quarter in the prior year, the firm posted $1.45 earnings per share. The company’s revenue was down 9.7% on a year-over-year basis. On average, equities research analysts forecast that Plexus will post 3.81 EPS for the current year.

Insider Activity

In related news, CEO Todd P. Kelsey sold 1,000 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $102.10, for a total value of $102,100.00. Following the sale, the chief executive officer now directly owns 113,810 shares in the company, valued at approximately $11,620,001. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Steven J. Frisch sold 700 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $108.19, for a total value of $75,733.00. Following the completion of the transaction, the insider now directly owns 56,113 shares of the company’s stock, valued at $6,070,865.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd P. Kelsey sold 1,000 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $102.10, for a total value of $102,100.00. Following the completion of the sale, the chief executive officer now directly owns 113,810 shares of the company’s stock, valued at $11,620,001. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,730 shares of company stock valued at $3,559,444. 2.39% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Plexus

Several hedge funds have recently bought and sold shares of PLXS. Swiss National Bank lifted its position in shares of Plexus by 0.8% in the 3rd quarter. Swiss National Bank now owns 60,800 shares of the technology company’s stock worth $5,653,000 after acquiring an additional 500 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Plexus by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 380,440 shares of the technology company’s stock worth $35,373,000 after acquiring an additional 10,221 shares during the period. Pathstone Family Office LLC lifted its position in shares of Plexus by 54.1% in the 3rd quarter. Pathstone Family Office LLC now owns 5,036 shares of the technology company’s stock worth $468,000 after acquiring an additional 1,767 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in shares of Plexus in the 3rd quarter worth approximately $228,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Plexus by 25.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,417 shares of the technology company’s stock worth $225,000 after buying an additional 493 shares during the period. 94.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on PLXS shares. Stifel Nicolaus increased their price objective on Plexus from $90.00 to $95.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. Needham & Company LLC lifted their price target on Plexus from $107.00 to $114.00 and gave the company a “buy” rating in a report on Friday, April 26th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Plexus currently has an average rating of “Hold” and a consensus price target of $107.75.

Plexus Company Profile

Plexus Corp. provides electronic manufacturing services in the United States and internationally. It offers design, develop, supply chain, new product introduction, and manufacturing solutions, as well as sustaining services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.